CBAK Energy Technology, Inc’s (NASDAQ: CBAT) fully-owned unit Dalian CBAK Energy Technology has inked a supply framework agreement with Zhejiang Kandi Vehicles Co., Ltd. As per the deal, both the firms will encourage the development of pure EV unitedly. Both the firm will use its capabilities and resources to complement each other.
Kandi Group is planning to buy a battery pack system and battery manufacturing system priced at 800 Million RMB in 2021. The power batteries of Dalian CBAK has the feature such as quick charging speed, high-efficiency power output, and good high-temp performance. These features will update the EV of Kandi vehicles.